Hulu Planning To Raise Additional Funding For Expansion Into Original Programming
Online TV service Hulu.com, the company that is owned by ABC, NBC, and Fox is intensifying their competition against Nextflix and they are planning to raise money to expand into more original programming. Hulu is releasing their first scripted show “Battleground” on February 14th and is weighing an option to raise cash this year according to chief content officer Andy Forssell.
“We have a very healthy business,” stated Forssell. “When you have a healthy business, capital is not a problem. There are plenty of people who want to help.” Last year Hulu cancelled a sale and postponed an IPO. Hulu also ordered 10 new episodes of Morgan Spurlock’s “A Day in the Life,” a documentary series that is returning in March.
Hulu Plus customers pay $7.99 per month and they can watch shows in high-definition and they can access programs on mobile devices. Last year Fox started restricting when new TV show episodes will become available to nonpaying viewers. Hulu hit $420 million in total 2011 revenues.@amitchowdhry or on Google+ at +AmitChowdhry